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Onslow Co. purchased a used machine for $240,000 cash on January 2. On January 3, Onslow...
Onslow Co. purchased a used machine for $240,000 cash on January
2. On January 3, Onslow paid $8,000 to wire electricity to the
machine and an additional $1,600 to secure it in place. The machine
will be used for six years and have a $28,800 salvage value.
Straight-line depreciation is used. On December 31, at the end of
its fifth year in operations, it is disposed of.
Prepare journal entries to record the machine’s disposal under
each separate situation: (a)...
Onslow Co. purchased a used machine for $288,000 cash on January 2. On January 3, Onslow...
Onslow Co. purchased a used machine for $288,000 cash on January 2. On January 3, Onslow paid $6,000 to wire electricity to the machine and an additional $1,200 to secure it in place. The machine will be used for six years and have a $34,560 salvage value. Straight-line depreciation is used. On December 31, at the end of its fifth year in operations, it is disposed of. 2. Prepare journal entries to record depreciation of the machine at December 31
Onslow Co. purchased a used machine for $192,000 cash on January 2. On January 3, Onslow...
Onslow Co. purchased a used machine for $192,000 cash on January
2. On January 3, Onslow paid $6,000 to wire electricity to the
machine and an additional $1,200 to secure it in place. The machine
will be used for six years and have a $23,040 salvage value.
Straight-line depreciation is used. On December 31, at the end of
its fifth year in operations, it is disposed of.
Please answer in the format below!
Record the first year year-end adjusting entry...
Onslow Co. purchased a used machine for $178,000 cash on January 2. On January 3, Onslow...
Onslow Co. purchased a used machine for $178,000 cash on January 2. On January 3, Onslow paid $2,840 to wire electricity to the machine and an additional $1,160 to secure it in place. The machine will be used for six years and have a $14,000 salvage value. Straight-line depreciation is used. On December 31, at the end of its fifth year in operations, it is disposed of. Problem 10-6A Disposal of plant assets C1 P1 P2 Required 1. Prepare journal...
Onslow Co. purchased a used machine for $192,000 cash on January 2. On January 3, Onslow...
Onslow Co. purchased a used machine for $192,000 cash on January
2. On January 3, Onslow paid $6,000 to wire electricity to the
machine and an additional $1,200 to secure it in place. The machine
will be used for six years and have a $23,040 salvage value.
Straight-line depreciation is used. On December 31, at the end of
its fifth year in operations, it is disposed of.
Answer in this format please
Record the purchase of a used machine for...
Onslow Co. purchased a used machine for $192,000 cash on January 2. On January 3, Onslow...
Onslow Co. purchased a used machine for $192,000 cash on January
2. On January 3, Onslow paid $6,000 to wire electricity to the
machine and an additional $1,200 to secure it in place. The machine
will be used for six years and have a $23,040 salvage value.
Straight-line depreciation is used. On December 31, at the end of
its fifth year in operations, it is disposed of.
Answer in this format please
Record the year of disposal year-end adjusting entry...
Onslow Co. purchased a used machine for $240,000 cash on January 2. On January 3, Onslow...
Onslow Co. purchased a used machine for $240,000 cash on January
2. On January 3, Onslow paid $8,000 to wire electricity to the
machine and an additional $1,600 to secure it in place. The machine
will be used for six years and have a $28,800 salvage value.
Straight-line depreciation is used. On December 31, at the end of
its fifth year in operations, it is disposed of.
Journal entry worksheet 2 Record the first year year-end adjusting entry for the...
Onslow Co. purchased a used machine for $192,000 cash on January 2. On January 3, Onslow...
Onslow Co. purchased a used machine for $192,000 cash on January 2. On January 3, Onslow paid $8,000 to wire electricity to the machine and an additional $1,600 to secure it in place. The machine will be used for six years and have a $23,040 salvage value. Straight-line depreciation is used. On December 31, at the end of its fifth year in operations, it is disposed of. 3. Prepare journal entries to record the machine’s disposal under each separate situation:...
Onslow Co. purchased a used machine for $240,000 cash on January 2. On January 3, Onslow...
Onslow Co. purchased a used machine for $240,000 cash on January 2. On January 3, Onslow paid $6,000 to wire electricity to the machine and an additional $1,200 to secure it in place. The machine will be used for six years and have a $28,800 salvage value. Straight-line depreciation is used. On December 31, at the end of its fifth year in operations, it is disposed of. Journal entry worksheet 1 2 3 Record the sale of the used machine...
Onslow Co. purchases a used machine for $144,000 cash on January 2 and readies it for...
Onslow Co. purchases a used machine for $144,000 cash on January 2 and readies it for use the next day at a $8,000 cost. On January 3, it is installed on a required operating platform costing $1,600, and it is further readied for operations. The company predicts the machine will be used for six years and have a $17,280 salvage value. Depreciation is to be charged on a straight-line basis. On December 31, at the end of its fifth year...
Onslow Co. purchased a used machine for $240,000 cash on January
2. On January 3, Onslow paid $8,000 to wire electricity to the
machine and an additional $1,600 to secure it in place. The machine
will be used for six years and have a $28,800 salvage value.
Straight-line depreciation is used. On December 31, at the end of
its fifth year in operations, it is disposed of.
Prepare journal entries to record the machine’s disposal under
each separate situation: (a)...
Onslow Co. purchased a used machine for $192,000 cash on January
2. On January 3, Onslow paid $6,000 to wire electricity to the
machine and an additional $1,200 to secure it in place. The machine
will be used for six years and have a $23,040 salvage value.
Straight-line depreciation is used. On December 31, at the end of
its fifth year in operations, it is disposed of.
Please answer in the format below!
Record the first year year-end adjusting entry...
Onslow Co. purchased a used machine for $178,000 cash on January 2. On January 3, Onslow paid $2,840 to wire electricity to the machine and an additional $1,160 to secure it in place. The machine will be used for six years and have a $14,000 salvage value. Straight-line depreciation is used. On December 31, at the end of its fifth year in operations, it is disposed of. Problem 10-6A Disposal of plant assets C1 P1 P2 Required 1. Prepare journal...
Onslow Co. purchased a used machine for $192,000 cash on January
2. On January 3, Onslow paid $6,000 to wire electricity to the
machine and an additional $1,200 to secure it in place. The machine
will be used for six years and have a $23,040 salvage value.
Straight-line depreciation is used. On December 31, at the end of
its fifth year in operations, it is disposed of.
Answer in this format please
Record the purchase of a used machine for...
Onslow Co. purchased a used machine for $192,000 cash on January
2. On January 3, Onslow paid $6,000 to wire electricity to the
machine and an additional $1,200 to secure it in place. The machine
will be used for six years and have a $23,040 salvage value.
Straight-line depreciation is used. On December 31, at the end of
its fifth year in operations, it is disposed of.
Answer in this format please
Record the year of disposal year-end adjusting entry...
Onslow Co. purchased a used machine for $240,000 cash on January
2. On January 3, Onslow paid $8,000 to wire electricity to the
machine and an additional $1,600 to secure it in place. The machine
will be used for six years and have a $28,800 salvage value.
Straight-line depreciation is used. On December 31, at the end of
its fifth year in operations, it is disposed of.
Journal entry worksheet 2 Record the first year year-end adjusting entry for the...
Onslow Co. purchased a used machine for $240,000 cash on January 2. On January 3, Onslow paid $6,000 to wire electricity to the machine and an additional $1,200 to secure it in place. The machine will be used for six years and have a $28,800 salvage value. Straight-line depreciation is used. On December 31, at the end of its fifth year in operations, it is disposed of. Journal entry worksheet 1 2 3 Record the sale of the used machine...
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